Gold testing $1,900 resistance level

Gold prices bounced from the $1,850 support level and currently testing the level near $1,900. The precious metal next direction will depend on the reaction from the resistance level. If the price gets rejected then gold is expected to continue consolidation between the $1,850 – $1,900 area. On the other hand, if a bullish breakout happens then gold could continue its upward movement toward $1,950 and $2,000.

Today critical levels to watch:

Support: $1,850, $1,800, $1,780

Resistance: $1,900, $1,950, $2,000

Silver testing the $25.00 resistance level

Similar to gold prices which currently testing the resistance level, silver prices also testing the $25.00 resistance level. If the price could breakout and close above $26.00 then traders will expect further upside. However, if the price gets rejected from $25.00 and formed a lower low on the chart then silver expected to target $21.35 and $20.00.

Today Critical levels to watch:

Support: $21.35, $20.00

Resistance: $25.00, $26.00

Crude oil looking to bounce from the $38.50 – $40.00 area

Crude oil prices closed lower for the third day. The price managed to maintain the close above $40.00 and currently attempting to bounce higher. No movement above Friday high yet. If the price could move and close above Friday high then crude oil has a chance to start a new bullish leg.

Today critical level to watch:

Support: $40.00, $38.50

Resistance: $49.00, $50.00